PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1539%/8h= −168.5% APRnext payment −$1.92 per $10,000 · paid last 24h −0.383%

Price spread now: SoDEX against Phoenix+0.297%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1651.651% of the position

Long on Phoenix Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−1.288%−$129 on $10k

Price spread, last 3 days (all we have)−0.171%−$17 · spread now +0.297%, 7d avg +0.008%

Together, before fees−1.459%−$146 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.289% dearer against Phoenix than usual: you sell high and buy low (spread +0.297% now, against its 7-day average of +0.008%): +$29 on $10k if it goes back. Holding the pair costs −$46 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix PONS	0.6001	0.1639	pay 0.0205% / 1h	53m 12s	$31K	$98K	3x
Short	SoDEX PONS-USD	0.6019	0.0100	get 0.0013% / 1h	53m 12s	$26K	$518K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee SoDEXbpOrdersPrice spread, now +0.297%Rate

Funding earned: −$323.09
Price spread: +0.297% → +0.008%: $28.9
Slippage, 4 orders: −$150.09
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$459.28
Costs to cover: 1.651%
Break-even: never at this rate

Slippage from Phoenix: live order book, 48 min ago; SoDEX: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phoenix live order book, 48 min ago	3.31 bp	16.5 bp −$16	51.7 bp −$517	doesn't fit	doesn't fit
Sell SoDEX live order book, 10 min ago	2.14 bp	65.6 bp −$66	doesn't fit	doesn't fit	doesn't fit

PONS on 29 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6005	+0.052%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.532%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6007	+0.093%	$20K	$424K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6029	+0.452%	$1.4M	$3.9M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5990	−0.183%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6009	+0.122%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6007	+0.087%	—	$1.3M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6019	+0.297%	$26K	$518K	3x
HTX PONS-USDT	+0.0100%	4h	0.6030	+0.472%	$64K	$507K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6021	+0.327%	$1.6M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0104%	1h	0.6009	+0.125%	$421K	$2.5M	3x	as long as short
Lighter PONS	+0.0120%	1h	0.6009	+0.125%	$1.7M	$871K	3x	as long as short
Aevo PONS-PERP	+0.0192%	1h	0.6006	+0.076%	$374	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0272%	4h	0.6025	+0.393%	$13.8M	$54.3M	20x	as long as short
Nado PONS-PERP	+0.0314%	1h	0.6006	+0.074%	$70K	$130K	5x	as long as short
KuCoin PONSUSDTM	+0.0338%	4h	0.6018	+0.277%	$1.7M	$3.6M	20x	as long as short
Bitget PONSUSDT	+0.0378%	4h	0.6036	+0.568%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0408%	4h	0.6000	−0.027%	$1.1M	$2.0M	20x	as long as short
Binance PONSUSDT	+0.0453%	4h	0.6019	+0.299%	$39.4M	$93.6M	20x	as long as short
Extended PONS-USD	+0.0456%	1h	0.6011	+0.153%	$248K	$670K	5x	as long as short
MEXC PONS_USDT	+0.0458%	4h	0.6023	+0.360%	$7.7M	$4.6M	20x	as long as short
edgeX PONSUSDC	+0.0460%	4h	0.6002	+0.008%	$21K	$290K	10x	as long as short
BingX PONS-USDT	+0.0506%	4h	0.6035	+0.560%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0519%	4h	0.6026	+0.410%	$18.0M	$30.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0704%	1h	0.6006	+0.083%	$48K	$1.5M	3x	as long as short
Hyperliquid PONS	+0.0704%	1h	0.6011	+0.153%	$61.2M	$27.7M	3x	as long as short
Gate PONS_USDT	+0.0742%	4h	0.6000	−0.023%	$5.2M	$6.1M	20x	as long as short
Pacifica PONS	+0.0755%	1h	0.5998	−0.062%	$47K	$72K	3x	as long as short
Phoenix PONSlong	+0.1639%	1h	0.6001	long leg	$31K	$98K	3x